The cryptocurrency market is experiencing a resurgence, with several altcoins showing signs of recovery after weeks of corrective price action. Among them, two Layer-1 tokens, Sei (
$SEI ) and EOS (
$EOS ), have garnered attention for their notable upward momentum. Sei has surged by 12% following a critical breakout, while EOS has gained over 3%, positioning itself near a crucial resistance level that could signal a potential breakout.
Sei (SEI) Technical Analysis
Sei (SEI) has successfully broken out of a falling wedge pattern, signaling a potential reversal from its previous downtrend. After testing strong support at the $0.19 level, the token surged upward, surpassing the upper resistance trendline of the wedge formation.
Currently trading around $0.25, SEI is facing resistance at the 25-day Simple Moving Average (SMA). Although a retest of the breakout level is possible, a decisive move above this resistance could pave the way for further gains. Key resistance levels to watch are $0.34 and $0.48, which would represent an upside potential of 88% from its current price.
EOS (EOS) Technical Analysis
EOS (EOS) appears to be following a similar price action to that of SEI, albeit still within a falling wedge pattern. The token recently rebounded from the $0.49 level, holding support along the lower trendline of the wedge, and is now testing both the upper resistance boundary of the wedge and the 200-day SMA.
At present, EOS is trading at $0.64. Should the price break above the upper resistance and confirm the breakout with a retest, the next resistance levels to monitor are $0.82 and $1.03, indicating a potential upside of 60% from current levels.
Market Outlook
As altcoins regain strength, Layer-1 tokens such as SEI and EOS are showing strong bullish momentum. SEI has already confirmed its breakout, suggesting the potential for further upside if key support levels hold. On the other hand, EOS is approaching a crucial breakout point, where a move above resistance could trigger a substantial rally.
Traders and investors should closely monitor these key levels, with SEI leading the upward trend and EOS potentially poised to follow suit.
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